AMMAN, Sept. 17 (Petra) – The Council of Ministers has decided to
extend the tenure of Adel Al-Sharkas as Governor of the Central Bank
of Jordan (CBJ) for an additional five-year term, cementing
continuity at the helm of the Kingdom’s monetary authority.

The reappointment reflects state confidence in the central bank’s
trajectory under Al-Sharkas, whose first term was marked by
structural milestones that insulated the domestic economy against
severe regional and global headwinds while preserving monetary and
financial stability.

Despite exceptional geopolitical and economic volatility over recent
years, the central bank successfully defended the stability of the
Jordanian Dinar and its purchasing power. This macroeconomic defense
was heavily reinforced by a historic surge in the bank’s foreign
currency reserves, which climbed to an unprecedented $28.4 billion by
the end of August, compared with $18 billion at the close of 2021.
Concurrently, inflation remained subdued and stable, averaging 2
percent annually ranking among the lowest rates in the region.

Amid shifting regional dynamics, the CBJ deployed a proactive
760-million-dinar intervention package in 2026 to mitigate external
shocks and support vulnerable economic sectors. Financial soundness
indicators continued to reflect robust commercial banking
performance, underpinned by high capital adequacy, statutory
liquidity, and sophisticated prudential oversight.

A landmark achievement of Al-Sharkas’s inaugural term was Jordan’s
formal exit from the Financial Action Task Force (FATF) grey list in
October 2023, following the successful execution of action plans to
upgrade the national anti-money laundering and counter-terrorism
financing architecture, thereby enhancing the global standing of
Jordan’s financial system.

In the sphere of financial modernization, the central bank advanced
digital innovation through the implementation of the National
E-Payments Strategy, the creation of the Jordan Fintech and
Innovation Center, and the establishment of a digital regulatory
sandbox. These efforts paralleled the rollout of the National
Financial Inclusion Strategy and the pioneering Green Finance
Strategy–the first of its kind in the MENA region–cementing Jordan’s
regional leadership in sustainable finance. Furthermore, the central
bank successfully integrated and overhauled the regulatory framework
governing the insurance sector to enhance transparency and safeguard
policyholder rights.

Al-Sharkas originally assumed the governorship on January 10, 2022,
after serving as Deputy Governor from 2012 to 2022. Having commenced
his professional career at the central bank in 1991, he advanced
through various executive roles, notably heading the Research
Department as Executive Director before ascending to top leadership.

//Petra// AA